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DP Trading Room: Why the PMO is Better Than the MACD!

Today Carl explains the benefits of using the Price Momentum Oscillator versus the MACD. They are not the same!

Carl then gives us his insights on the market in general as well as Bitcoin news, Magnificent 7 overview, as well as Crude Oil and Interest Rates.

Erin gives us an in depth look at where the S&P Sectors are showing strength. One sector should be avoided based on the PMO.

Some highlights:

– The PMO is a better momentum indicator than MACD because it normalizes readings to allow for better comparisons over time. 

– Many of the “Magnificent Seven” tech stocks like Apple, Google, and Microsoft are showing signs of topping out based on technical indicators. 

– Consumer staples and real estate sectors look strong and may benefit if the broader market corrects. 

– Comm services sector is showing weakness based on declining PMO readings. 

– Home Depot still looks technically healthy despite a bearish momentum divergence. 

– IGV tech ETF looks interesting but tech weakness could pose risks. 

– ARM Holdings has more upside potential but requires a tight stop due to parabolic rise. 

– Gold miners like MTA still have downside risk given weakness in gold prices and technical indicators.

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

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Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2024

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)


SCTR Ranking

Bear Market Rules

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